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BUSINESS
December 28, 2002 | Josh Friedman, Times Staff Writer
Geopolitical jitters sent stocks reeling Friday as the market closed out another losing week en route to its third straight down year. Investors shifted money into Treasury securities and gold as a rebel bombing in Chechnya left more than 40 people dead, adding to growing nervousness over the U.S. standoffs with both Iraq and North Korea. At the same time, the dollar continued its recent swoon as war worries soured investors on the greenback.
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BUSINESS
June 6, 1995 | From Times Wire Services
Stocks surged to record highs Monday on the back of IBM's surprise $3.3-billion takeover bid for software firm Lotus Development Corp. Analysts said Wall Street was also hoping that the Federal Reserve Board will cut interest rates to keep the economy from slipping into recession. At the close, the Dow Jones industrial average was up 32.16 points at 4,476.55, beating the old record of 4,472.75 reached last Thursday. Several broader market indicators closed at new highs Monday.
BUSINESS
December 7, 1995 | From Bloomberg Business News
U.S. stocks rose to records for a third day Wednesday as investors grew more confident that corporate profits will expand next year as interest rates fall. Shares of banks and other financial companies led the advance. Expectations that the Federal Reserve Board will trim interest rates this month fueled optimism that the year-old rally in stocks still has room to grow.
BUSINESS
November 6, 1993 | From Times Staff and Wire Reports
Market Overview * Fresh signs of economic growth in the October employment report pushed long-term bond yields up for the sixth consecutive trading day Friday, extending a three-week selloff. * U.S. stocks, battered by two days of heavy selling, closed mixed as bargain hunters entered the market. Overseas, most foreign markets suffered deep declines. * Gold soared to a three-month high, gaining from the turmoil in stocks and bonds.
BUSINESS
May 9, 2008 | Madlen Read, The Associated Press
Wall Street closed a quiet session with a moderate advance Thursday, with energy and other commodities companies leading the market as oil prices extended their record-breaking run. The price of crude oil swept past $124 a barrel in late New York Mercantile Exchange trading, while gasoline rose to a new record of its own at the pump, climbing to a national average of nearly $3.65 a gallon. Though the rising price of oil ignited concerns about inflation Wednesday, knocking the Dow Jones industrial average down more than 200 points, stocks held on to their gains even as oil rose Thursday.
BUSINESS
March 13, 2008 | From Times Wire Services
Wall Street's euphoria over the Federal Reserve's latest move to cure the credit crunch turned to caution Wednesday, leading stocks to retreat a day after their biggest rally in more than five years. The Fed's plan announced Tuesday to lend $200 billion in Treasury securities -- and accept mortgage-backed securities as collateral -- was greeted by the stock market as an innovative way to bring relief to the tight credit markets. But investors were hesitant Wednesday to pour more money into stocks without signs that the central bank's move would help turn around the economy.
BUSINESS
November 13, 2008 | Walter Hamilton, Hamilton is a Times staff writer.
More glum news on consumer spending and a reversal in the Treasury Department's plan to buy troubled mortgage-related debt from the country's banks combined to drive the stock market to its third straight loss Wednesday. The Dow Jones industrial average sank more than 400 points as it and other major stock indexes fell about 5% to near or below their Oct. 27 lows, which investors had hoped would serve as a floor under stock prices.
BUSINESS
January 10, 1996 | From Times Staff and Wire Reports
Another massive sell-off of technology shares sparked a broad stock market decline on Tuesday as blizzard-weary Eastern traders struggled back to work. The latest breakdown of budget talks between President Clinton and Republican leaders also contributed to the markets' negative tone--which may only worsen today, some analysts warned. On Wall Street, the technology-heavy Nasdaq composite stock index plummeted 33.56 points, or 3.3%, to 998.81, its lowest close since early October.
BUSINESS
August 13, 2011 | By Nathaniel Popper and Kim Willsher, Los Angeles Times
One of the wildest streaks in Wall Street history came to a tame close with blue-chip stocks not far from where they were when the week began. After four consecutive days of 400-point swings, the Dow Jones industrial average rose a relatively modest 125 points Friday to bring the blue-chip average only 1.5% lower for the week. At one point this week, the Dow was down a dizzying 7.3%. The subdued trading was a relief for investors who have been buffeted by a stream of bad news in recent weeks.
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